Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0019%/8h= +2.1% APRpaid last 24h −0.009%

Price spread now: Pacifica against BloFin+0.179%214s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Pacifica is 0.179% dearer against BloFin than usual: you sell high and buy low: +$18 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 214 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PIPPIN-USDT	0.01904	0.0081	pay 0.0040% / 4h	2h 44m	$255K	$29K	25x
Short	Pacifica PIPPIN	0.01907	0.0100	get 0.0013% / 1h	44m 51s	$18K	$9K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BloFinbpFee PacificabpOrdersPrice spread, now +0.179%Rate

Funding earned: $4
Price spread: +0.179% → 0.000%: $17.86
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $1.85
Costs to cover: 0.200%
Break-even: 3.8 days

Slippage unknown: BloFin: live order book, 15 min ago; Pacifica: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BloFin live order book, 15 min ago	7.87 bp	18.9 bp −$19	79.5 bp −$795	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

PIPPIN on 13 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin PIPPIN-USDTlong	+0.0081%	4h	0.01904	long leg	$255K	$29K	25x
Aster PIPPINUSDT	+0.0100%	4h	0.01907	+0.165%	$111K	$33K	5x	as long as short
Pacifica PIPPINshort	+0.0100%	1h	0.01907	+0.179%	$18K	$9K	3x
Binance PIPPINUSDT	+0.0100%	4h	0.01905	+0.077%	$5.4M	$4.8M	25x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0100%	4h	0.01906	+0.105%	$1.5M	$3.2M	20x	as long as short
MEXC PIPPIN_USDT	+0.0100%	4h	0.01906	+0.105%	$2.4M	$741K	50x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01909	+0.263%	$1K	$10.0M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01894	−0.525%	$34K	$15K	20x	as long as short
Bybit PIPPINUSDT	+0.0230%	4h	0.01907	+0.158%	$3.7M	$1.4M	13x	as long as short
Gate PIPPIN_USDT	+0.0450%	4h	0.01906	+0.105%	$1.8M	$301K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PIPPINUSDTM	+0.1628%	4h	0.01907	+0.158%	$2.1M	$4.4M	25x	as long as short
BingX PIPPIN-USDT	+0.1950%	4h	0.01906	+0.105%	—	$1.3M	—	as long as short
Bitget PIPPINUSDT	+0.2060%	4h	0.01902	−0.105%	$1.6M	$329K	10x	as long as short